Escrow account - Study guides, Class notes & Summaries

Gold Coast Real Estate Exam Questions With Verified Answers Latest 2024 Graded A+ . Tract building - Answer- When a dev. Acquired land, records a plat map and uses a model center from which sales may be made Local level - Answer- Planning, zoning, property taxation, building and health codes and regulations, and building moratoriums that affect development play a significant role in the cost and desirability of real estate Broker associate - Answer- A licensed broker working for another bro...

acquisition agent - correct answer people who solicit others to attend a presentation license expire - correct answer 2 years from the issued date powers of the commission - correct answer can fine you, suspend your license, or refer you to court reinstatement for expired license - correct answer retake the test escrow account - correct answer deposit for purchase into a bank account developer - correct answer person/entity in the business of creating or selling any timeshare prog...

Colibri Real Estate (Real Estate Express) Final Exam Review (UPDATED) Fully Solved Assured A+. Broker Jane has been accused of a law violation regarding commissions. Which of the following might result in her being found guilty? A) Jane paid a commission to her licensed personal assistant. B) Jane paid a commission to the wife of one of her licensees who was recently killed in an auto accident. The deceased licensee had earned the commission prior to his death. C) Jane paid a commission p...

Nevada Real Estate Exam Questions and Answers (Graded A)Nevada Real Estate Exam Questions and Answers (Graded A)Nevada Real Estate Exam Questions and Answers (Graded A)Nevada Real Estate Exam Questions and Answers (Graded A)What is the minimum balance of the real estate education, research, and recovery fund? A) $300,000. B) $100,000. C) $250,000. D) $500,000. - ANSWER-a 2. How long after the signing of a contract for the purchase of a lot in NV or anywhere else may the purchaser cancel t...

SC Property Management License Exam with Complete & Verified Solutions | 2024 Update PM & PMIC licenses need to renewed biennially - Answer ️️ -June 30th (end of state's fiscal year) Conversion - Answer ️️ -to use trust funds for the purpose other than the purpose of which they are held. Unlawful use of funds. Customer - Answer ️️ -a buyer, seller, landlord or tenant who uses the services of a real estate licensee but does not establish an agency relationship through a writte...

PSI TN (State) Exam Questions & Answers 2023/2024 What is the purpose of an escrow account? - ANSWER-Keep money that doesn't belong to you SEPARATE from personal account/money Who is responsible for looking after Escrow Accounts for property? - ANSWER-Broker Another name for Escrow Money (earnest money, security deposits) is_________? - ANSWER-Trust Money When a Broker gets Escrow/Trust money and deposit into the Escrow Account they MUST do what as well? - ANSWER-The Broker must w...

A market for the purchase and sale of existing mortgages designed to provide greater liquidity for selling mortgages is called the ________. secondary market The Federal agency established to restore Fannie Mae and Freddie Mac to a sound and solvent financial condition is _____. Federal Housing Finance Agency (FHFA) The ____ guarantee allows mortgage lenders to obtain a better price for their loan in the capital markets. Gov't. National Mortgage Association - Ginnie Mae ...

Gold Coast Final Exam 2023 Questions and Answers 100% CorrectGold Coast Final Exam 2023 Questions and Answers 100% CorrectGold Coast Final Exam 2023 Questions and Answers 100% Correct What is the form you sign that says you will pay the loan back ? - ANSWER-promissory note What is the post licensing grace period after first expiration ? - ANSWER-none Deposits is a form of... - ANSWER-valuable consideration Physical land and improvements - ANSWER-real property Is it a violation if ...

Special situations, where unusual facts exist or where one or more parties involved are especially vulnerable, could require additional disclosures not contemplated. in such cases, brokers - should seek legal advice prior to entering into an agency relationship If a broker, as escrow agent, accepts a check and later finds that such check has not been honored by the bank on which it was drawn, the broker shall - immediately notify all parties involved in the transaction Monies received in a...

Escrow Account – Questions And Answers